And yes, there are such things as roof rats!

The tenants reported a roof leak and it’s still raining.

If there was ever a guy who has absolutely no idea about rehabs and fixing houses its me but i had to deal with pesky squirrels and flashed my roof and started with small changes like painting kitchen cabinets to white and painting the hardware and man just that made a difference.I am debt free, no car payment and analyzing deals everyday.

They said bad original plumbing and roof leaking combo with all the rain we had.

The Village where the building is has now sought a demolition order for the building due to; smoke alarms, improper boiler venting, leaking gas lines to stoves, and leaking roofs over the front and rear entrances.

On top of that, what if all of a sudden you need a new roof, or windows, or a sewer line, or the irrigation system freezes, leaks and floods the basement, or a fire guts the place and your insurance only covers some of the vacancy/rebuild costs, or a flood washes it away and you didn't have flood insurance, or your tenant stops paying and their estranged lover/stiffed drug dealer breaks in and destroys the place, or any one of a myriad possible bad things happens because you have an investment that hinges upon human behavior, and therefor needs constant baby sitting, and 5 years of your glorious $500/month is wiped out in one afternoon, and the bank takes the property?

Someone else mows your lawn, fixes or replaces your appliances, removes snow, takes care of the roof, fixes plumbing and electrical issues, the list goes on. 

The roof is in good shape.

-does that say the roof is 20 yrs old?

Inspection came back and I estimate $15k repairs (which includes $5k for two trees to be removed hanging over the roof, and $5k for a back deck that is wood leading to concrete stairs - terrible construction).